A leading cosmetics brand is planning to launch a new product into the market and is conducting market research to determine the demand and needs of customers.The next step that has to be taken by the firm after deciding on the objective of the research is to:

Question

Quizplus · Accepted Answer

The next step after deciding on the objective of the research is to identify the type of data needed and determine the type of research necessary to collect it. This is because the type of data needed will determine the type of research that is necessary to collect it. For example, if the firm needs to collect quantitative data, then it will need to conduct a survey. If the firm needs to collect qualitative data, then it will need to conduct interviews or focus groups.

A Leading Cosmetics Brand Is Planning to Launch a New